Gordon Brothers provided a £19.5 million ($25.9 million) secured term loan facility to Mothercare Global Brand Limited.
The new facility, secured against the brand, replaces Gordon Brothers’ existing exposure of £11.6 million ($15.5 million) to the Mothercare PLC group, providing Mothercare with additional liquidity of approximately £7.9 million ($10.5 million).
“We are delighted to be partnering with Mothercare Global Brand to support the next phase of its growth plans after first entering a relationship with Mothercare in November 2019,” Frank Morton, CEO of Gordon Brothers International, said. “The brand has a strong history and an internationally proven track record of providing premium quality Mothercare branded products to expectant mothers and children around the world — a recipe for success in today’s complex retail environment.”
“Gordon Brothers’ ability to both satisfy our financing needs today, as well as assist us in growing and expanding our operations for the future, put them in a distinct category for us when we were evaluating potential partners,” Clive Whiley, chairman of Mothercare, said. “With this capital secured, we are well-positioned to effectively execute on our business plan.”
Founded in 1961, Mothercare is a global brand that offers products to expectant mothers and children.